Considering the slowdown and lack of improvement in trade, Romania's sole rebar producer and local traders have decided to keep offer prices unchanged compared to the previous week. In the meantime, suppliers are not optimistic about the outlook and business is expected to remain limited as Turkish scrap prices fluctuate and import offers show a softening.
According to reports, over the past week the sole producer’s rebar prices have remained at €580-590/mt ex-works, while Romanian rebar traders have also kept their prices unchanged week on week, at €575-580/mt ex-warehouse.
Similar to the rebar segment, the majority of traders in the wire rod segment have kept offers unchanged from the previous week, despite the ongoing weak sentiments. Currently, traders are submitting wire rod offers at €570-585/mt ex-warehouse.
In the import segment, while no deals have been achieved, the majority of import offers have remained fairly stable week on week. As a result, Greece has been offering rebar and wire rod for €620-625/mt CFR and €630-635/mt CFR, respectively, while Bulgaria has continued to offer rebar at €600-620/mt CPT. Meanwhile, Egypt's rebar and wire rod offers have decreased by €15/mt to €560-565/mt CFR since last week. A similar decrease has been seen from Turkey. Based on mills’ prices of $590-610/mt FOB and freight costs of $25-30/mt, the Turkish price levels to Romania should be at about €565-590/mt CFR at the current currency exchange rate of €1 = $1.09.